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Wallet Setup Guides

Everything you need to set up secure Bitcoin self-custody.

Before You Begin

If you're new to Bitcoin, start with Getting Started to understand the fundamentals first.

Setup Path​

Follow these guides in order for a secure setup:

1. Hardware Wallet Setup    →  Get your device configured
2. Backup Verification      →  Test that your backup works
3. Before You Deposit       →  Final checklist before funding

📦 Hardware Wallet Setup​

Hardware Wallet Setup Guide​

Time: 30-60 minutes | Difficulty: Beginner

Set up a hardware wallet from scratch. Covers:

  • Choosing and purchasing a hardware wallet
  • Initial device setup and PIN configuration
  • Generating your seed phrase securely
  • Installing and connecting wallet software (Sparrow)
  • Receiving your first transaction

Prerequisites: None — this is where most people should start.

✅ Backup Verification​

Backup Verification Guide​

Time: 30-60 minutes | Difficulty: Beginner

Verify your seed backup actually works before trusting it with significant funds.

  • Why verification is critical
  • Multiple verification methods
  • Testing recovery on a second device
  • What to do if verification fails

Prerequisites: Completed hardware wallet setup with seed backup written down.

🚦 Before You Deposit​

Before You Deposit Checklist​

Time: 15-30 minutes | Difficulty: Beginner

Critical checklist to complete before moving significant Bitcoin to your wallet.

  • Seed phrase verification
  • Backup recovery test confirmation
  • Address verification on device
  • Test transaction completion

Prerequisites: Completed hardware wallet setup AND backup verification.

Which Wallet Should I Use?​

Not sure which hardware wallet to buy? See our Choose Your Setup guide for recommendations based on your situation.

Quick recommendations:

SituationRecommendation
Budget-consciousTrezor Safe 3 (~$80)
Simplicity priorityBitBox02 Bitcoin-only (~$150)
Maximum securityColdcard Mk4 (~$150)
Open-source priorityTrezor Model T (~$180)

Software Wallet Option​

For small amounts while learning, a software wallet is acceptable:

Software Wallets Overview​

Software wallets store keys on your phone or computer. They're free and convenient but less secure than hardware wallets.

Recommended for:

  • Amounts under $500
  • Learning and experimentation
  • Daily spending wallet (alongside hardware wallet for savings)

Not recommended for:

  • Significant savings
  • Long-term holdings
  • Anyone who can afford a hardware wallet

After Setup: Next Steps​

Once your wallet is set up and verified:

  1. Run Your Own Node — Verify transactions yourself
  2. UTXO Management — Manage privacy and fees
  3. Add a Passphrase — Extra security layer
  4. Multisig Setup — Eliminate single points of failure (for larger holdings)

Common Questions​

"Do I need to buy a hardware wallet?"

For anything more than pocket change, yes. Hardware wallets are the minimum security standard for meaningful amounts.

"Which is better: Trezor, Ledger, or Coldcard?"

All are reputable. Trezor and Coldcard are Bitcoin-focused and fully open source. Ledger has a secure element but closed-source firmware. See hardware wallet comparison.

"Can I use the same seed on multiple devices?"

Yes, but generally not recommended. If you need redundancy, consider multisig instead.

"What if I already have a hardware wallet set up?"

Skip to Backup Verification to ensure your existing setup is secure.